It's helpful to think of age 70 as the retirement age to get the maximum benefit that you are entitled to. Not only does your benefit grow 8% per year, but the additional years of work could potentially boost the amount of your initial retirement benefit. By continuing to work you also give yourself more time to contribute to retirement accounts and pay off home mortgages, and you reduce the length of time or amount you will need to withdraw from your retirement accounts. That can make a big difference on how well you can live and thrive in retirement.."Social Security: What Would Happen If The Trust Funds Ran Out?" Christine Scott, Congressional Research Service, August 2, 201Debt Limit Analysis, Bipartisan Policy Center, July 2011..Late this week, lawmakers in the House and Senate adjourned for a seven-week summer recess. They are expected to return to Capitol Hill following the Labor Day holiday, on September 6th. In the meantime, most Members of Congress will be holding town hall meetings in their home states and districts, presenting constituents with an excellent opportunity to have their most pressing questions answered before the looming elections..To locate your Area Agency on Aging visit the Eldercare Locator or call toll free..Flu vaccination is especially important for people 65 years and older because they are at high risk of developing serious complications from flu. Flu vaccines are updated each season as needed to keep up with changing viruses. Also, immunity wanes over a year so annual vaccination is needed to ensure the best possible protection against flu. A flu vaccine protects against the flu viruses that research indicates will be most common during the upcoming season. Flu vaccines for 2020-2021 have been updated from last season's vaccine to better match circulating viruses. Immunity from vaccination fully sets in after about two weeks..The switch is insidious for that reason. But a.03 of a percentage point reduction can make a huge difference to what you receive in Social Security, especially as you get older. The following chart illustrates the impact over the first ten years on a married couple that receives ,500 per month in Social Security benefits today. After ten years the cut would reduce benefits by per month, and by nearly ,475 over that period..The legislation fully covers the cost of providing the emergency payments by closing corporate compensation loopholes, which provide enormous tax breaks for the CEOs of the nation's top corporations. By closing the loophole, the bill also would add substantial new revenue to Social Security, extending the solvency of both the retirement and disability insurance trust funds..case feels just as crummy..New Top Official for CMS

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Rescue committees may not even be needed for Social Security. The House is working on The Social Security 2100 Act introduced by Representative John Larson, and has the support of 208 co-sponsors. The bill would provide;.The income thresholds that subject up to 50 percent of Social Security benefits to tax start at provisional incomes of ,000 and ,000. A second tier taxes up to 85% of benefits when individual provisional income exceeds ,000, and joint exceeds ,000. If the thresholds were adjusted to today's dollars the ,000 threshold would be about ,107 and the ,000 would be about ,097 according an analysis for TSCL..While the drug industry gave money to a broad range of candidates, it focused in particular on those on key committees that oversee health care legislation." … Continued

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In the first year of the new healthcare law, a large percentage of enrollees through the federal exchange tended to be older adults, many having pre-existing conditions. In addition, there were individuals who enrolled when they received notice that their former health plan was ending, and still other uninsured consumers did so attempting to comply with the new law to have health coverage or pay a fine..With Medicare Part B premiums growing several times faster than COLAs, premiums routinely offset a significant portion of the annual inflation boost. This, in turn, causes retired households to draw down savings more rapidly than planned, and many retired households to carry growing amounts of debt. Lower income households may go without adequate food, medically necessary health services, and to postpone filling prescriptions..Most Americans contribute 6.2 percent of every paycheck to Social Security, but workers earning over 2,900 contribute nothing over that amoun,t due to a payroll tax cap. Around 75% of Social Security beneficiaries believe the Social Security taxable maximum should be eliminated to extend the solvency of the Trust Funds responsibly, without cutting benefits. Do you agree? … Continued

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